Build vs Buy Software: Key Factors to Consider

Are you looking for a smarter way to build a business solution? One that saves you time, money and reduces commercial risk? 

If the answer is yes, you’re certainly not alone. Whether you’re looking to build an online store, sales incentive program, or customer loyalty program, there’s a wide variety of options on the market when it comes to choosing a software provider. This brings up the critical question of "build vs buy"—should you develop a custom solution or purchase an existing one? Few businesses are able to “tick all the boxes” when selecting the right software solution to suit their needs.

Navigating the Build vs Buy Dilemma in Software Solutions

Having the option to build bespoke software enables you to design exactly what you want and provides complete ownership of the software. However building, managing, and maintaining bespoke software comes with a hefty price tag, ultimately resulting in commercial risk to your business.

Should you build software tailored to your exact needs, or buy software that is readily available but may require compromises? Each option has its own set of advantages and drawbacks, making the build vs buy software decision a crucial one for any business.

Then, there’s the less expensive and readily accessible commercially off-the-shelf (COTS) software, which brings us to the "build vs buy" dilemma. COTS software is an efficient way to start interacting with customers sooner by configuring software instead of building it. However, these options have limitations, generally only supporting a single business solution such as sending emails or managing an online store.

Kademi: Bridging the Build vs Buy Gap

In today’s highly competitive market, businesses want the best of both worlds - to tailor a software solution and enter the market quickly, all while being cost effective. 

That’s why Kademi created a smarter way, that allows you to access all the tools you need in a single platform, giving you the ease and efficiency of COTS software so you can configure your solution in hours. Then, depending on your individual needs, you can extend and customize your solution using a software developer without breaking the budget.

Watch the below video and discover how easy it is to configure a B2B sales incentive program in under five minutes using Kademi.

How to Make the Decision?

Conclusion

In conclusion, the decision between building custom software and buying off-the-shelf solutions hinges on a business's specific needs, budget, and timeline. Custom software provides tailored solutions but involves higher costs and risks, while off-the-shelf software offers a quicker, more cost-effective approach with potential compromises. Kademi proposes a hybrid method, combining the efficiency and affordability of off-the-shelf software with the flexibility of custom solutions, allowing businesses to balance cost, time, and functionality effectively.